On 16 March 2021, Kazanorgsintez PJSC held a regular meeting of the Company’s Board. The meeting was attended by all members of the Board. During the meeting, the Board summed up the 2020, preliminarily approved the Company’s Annual Report, examined annual accounting (financial) statements, adopted a number of decisions with regard to preparing for the Annual General Shareholders Meeting, affirmed recommendations for the Annual General Meeting on net profit distribution and considered other matters as well.
According to annual accounting statements under the Russian Accounting Standards, revenue of Kazanorgsintez PJSC at year-end 2020 made RUB 62.8 bln. Even under the conditions of COVID-19 pandemic and consequential economic crisis, the Company’s net profit reached RUB 8.6 bln.
The Board recommended to the Annual General Shareholders Meeting of Kazanorgsintez PJSC to allocate a part of its net profit in the amount of RUB 2.6 bln for capital investments. Total amount of dividends payable to shareholders in accordance with the Company’s Charter makes at least 70% of the net profit. Payments will be calculated as RUB 0.25 per one preference share and RUB 3.36 per one ordinary share.
The General Meeting will be held on 23 April 2021 “in absentio”. All draft documents will be available for shareholders at the website of Kazanorgsintez PJSC https://kazanorgsintez.ru. In addition, shareholders having no access to the Internet will be able to study materials concerning the Annual General Shareholders Meeting on weekdays from 8 a.m. to 3 p.m. Moscow time starting from 2 April 2021 at the Corporate Governance Department of Kazanorgsintez PJSC at the following address: Office 7-1, Bldg. 1030, 101 Belomorskaya St., Kazan 420051, Republic of Tatarstan, Russian Federation. Shareholders may send their completed bulletins to the same address.
Kazanorgsintez PJSC is one of the largest domestic PE producers and the only polycarbonate producer in Russia. Kazanorgsintez PJSC is a member of TAIF Group. The Company is the only Russian participant of PE100+ Association. All products made by Kazanorgsintez PJSC are certified by the State Committee of the Russian Federation for Standardization and Metrology. Kazanorgsintez PJSC is the largest PE exporter in Russia supplying its products to 31 countries worldwide.
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